Accel-backed Amagi to list on Jan 21 after over 30X subscription

New Delhi, Jan 20 (PTI) Cloud-managed services and advertising technology firm Amagi, backed by venture capital firm Accel, is set to list its shares on the stock exchanges on January 21, after its initial public offering was subscribed over 30 times its offer size.

Founded in 2008, Amagi provides cloud-native software and managed services to content owners, distributors and advertisers, helping them distribute and monetise ad supported video across streaming and connected TV platforms.

The company operates largely in overseas markets with North America and Europe accounting for the bulk of its revenues, according to a statement.

At the issue price, the IPO values Amagi at about USD 869 million.

Shekhar Kirani, partner at Accel, said the listing

reflects how the business has been built over time.

“Amagi has been built with a strong emphasis on consistency and operating discipline,” Kirani said. “What stands out is the repeatability of the model – high customer retention, improving unit economics and a business that scales with control,” Kirani told PTI.

According to Amagi, about 45 per cent of the world’s top 50 listed media and entertainment companies are among its customers, underlining its position as a backend infrastructure provider to global streaming and broadcast platforms.

The company has reported an improvement in profitability in recent periods. Amagi turned profitable in the six-month period ended September 2025, having been adjusted EBITDA-positive in FY25 (EBITDA stands for Earnings Before Interest, Taxes, Depreciation, and Amortisation).

The company reported a net profit of Rs 6.4 crore for the first half of FY26, compared with a loss of Rs 66 crore in the year-ago period.

Operating revenue for the six-month period rose to Rs 704.8 crore from Rs 523.7 crore a year earlier.

Amagi’s listing adds to the growing list of Accel-backed companies that have accessed public markets in recent months, including Urban Company, reflecting growing participation by venture-backed firms in India’s listed space, the statement said.

The listing comes amid increased participation by public market investors in technology-led businesses, particularly those with global operations and clearer visibility on profitability and governance. PTI MBI MIN MIN